5 Cheapest CRM Options That Deliver Premium Business Performance

FinancesOnline.com writes: For many business owners, entrepreneurs, and managers, the idea of managing customer relations can be a herculean task right from the get go. It is one thing to market your business and sell whatever service or product you offer. Getting involved with customers, gathering their details, and understanding their spending behaviors  are a whole new ball game. This is where CRMs (customer relationship management  software) comes into play.

When maximized to its full potential, a CRM software can be a very powerful business tool. It provides you with a hub where you can store all your customers’ information as well as insights and reports that will help you understand your clients better. CRMs also feature communication capabilities that allow users to get in touch with their customers via multiple channels, ranging from emails, social media, phone, and even the traditional snail mail.

Many of the expensive CRM options carry premium features that takes customer relationship management to a higher level. With that being said, some of the cost effective (read: cheap) alternatives do pack an adequate punch in delivering basic CRM services.

On that note, here are the 5 cheapest CRM solutions that do not play cheap when it comes to doing business.

1. Pipeliner CRM

Pipeliner CRM takes pride in being a CRM solution built and developed by salespeople. With a focus on bolstering and improving sales, Pipeliner CRM is integrated not just with the usualCRM features such as contact management, business intelligence, and integrations. This particular software comes with sales-oriented features like social selling, sales funnel, and sales techniques.

Pipeliner CRM visualizes your sales pipeline, thus helping you get reliable and actionable business insights. With just a few clicks, you get instantly “readable” sales and activity reports. On top of that, you can track progress in real time, work online and offline, as well as improve workflow and productivity among others.

You can get all this and more for just $35 per month.

Pipeliner CRM SmartScore and Customer Satisfaction

Our B2B experts reviewed Pipeliner CRM features, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave Pipeliner CRM a score of 7/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 100%.

2. Base CRM

Base CRM offers users with an intelligent CRM solution that will help them implement bettercustomer management practices and bolster revenues with their robust set of sales tools. Listed among Base CRM’s highlighted features is its capability to list all customer contact information into one single place. The system also enables users to link individual and business contacts, granting users a very unified contact management experience.

In terms of sales and productivity, Base CRM comes with sales tracking, sales forecasting, and goals / quota setting capabilities. The tool also include reporting and analytics, providing users with reliable data and insights that they can use to map out their future projects, determine their goals, and improve customer relations to mention a few.

For those on a budget, Base CRM has a starter package that include basic CRM features including  unlimited leads and contacts, 2GB storage, premium and email integrations, geolocation, and call recording. The Starter package is priced at $25 per month per user with a limit of 5 users.

Base CRM SmartScore and Customer Satisfaction

Our B2B experts reviewed Base CRM functionalities, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave Base CRM a score of 7.3/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 100%

3. Highrise

What makes Highrise a popular choice among CRM software users? For many experts and CRM clients, Highrise presents four things that many consider as essential: simplicity, accessibility, extensibility, and price. Highrise carries all the basic features that you would normally require from a CRM platform and does not provide you with stuff that you will never need.

Developed primarily for small businesses, nonprofit organizations, and freelancers, Highrise helps users organize up to 30,000 conversations, manage customer information,  follow business deals and proposals, and import data from vCards, Microsoft Outlook, ACT!, and Basecamp accounts. On top of that, Highrise also has  more than 100 feature add-ons.

As far as price goes, the cheapest plan is the Highrise Basic package. Ideal for groups of up to 6 users, the Highrise Basic bundle is pegged at $24 per month and comes with 5GB of storage, 5000 contacts, and 10 deals.

Highrise CRM SmartScore and Customer Satisfaction

Our B2B experts created a comprehensible review of Highrise CRM summarizing its features, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave Highrise CRM a score of 6.5/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 99%

4. Nimble

Simple and intuitive, Nimble scores highly among the low-priced CRM platforms with its extensive set of highly useful functionalities that allow you to take full control of all yourcustomer relationship processes. Manage customer information effectively, organize transactions, monitor history, and track progress are just some of the things Nimble lets you do.

Nimble’s most outstanding feature is the contact record, where all client information are shown in rich detail. Aside from importing customer data from known channels and social networking sites like Gmail, Yahoo, Outlook, Facebook, LinkedIn, Skype, Google+, email, phone, etc, Nimble also intelligently gather customer insights and then present them to you via reports. What you then get is actionable information that can easily boost your sales and improve your business performance.

And the price? All that and more for just $15 a month.

Nimble SmartScore and Customer Satisfaction

Our B2B experts created a full review of Nimble with a detailed view of its features, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave Nimble a score of 8.5/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 99%

5. OnePage CRM

Developed primarily for small businesses, OnePage CRM features a powerful yet uncluttered dashboard that shows you everything you need to know. From contacts, progress overviews, and summaries, OnePage CRM does away with useless charts and forms.  The platform also offers sales-oriented features that when combined with CRM functionalities, makes OnePage CRM a very powerful sales marketing system.

Nimble offers a $15 per month package, ideal for a 1 user setup. This priced plan comes with unlimited contacts and deals, 16GB storage, Mailchimp integration, and basically everything else.

OnePage CRM SmartScore and Customer Satisfaction

Our B2B experts reviewed OnePage CRM features, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave OnePage CRM a score of 8.9/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 99%

3 Misconceptions About Asset Protection

 Patricia Donlevy-Rosen, and Howard Rosen for Think Advisor write: Are you confident that your clients will never be sued? And if they are sued, are you certain that they will be treated fairly by the U.S. legal system?  People are now being forced to protect themselves and their assets from liabilities that were never a concern in the past.  Even though asset protection planning, such as the use of trusts, has been around for hundreds of years, there are newer defense methods specially suited for the complex modern times in which we live.

For those unfamiliar with the term, asset protection planning is the adoption of advance planning techniques that place one’s assets beyond the reach of future potential creditors. It can be done without hiding assets, secret agreements or fraudulent transfers. It is based upon proven sophisticated combinations of business and estate planning techniques, utilizing offshore trusts.

Many people mistakenly believe that it’s safer to protect their assets domestically with a limited liabiity company.  Although some degree of protection may be available through the use of a domestic LLC, we can never predict whether a local court or jury will properly apply the law. Sometimes a “result oriented” judge or jury will ignore the limitation on reaching the interest of a member (owner).  In addition, some states provide no protection of assets held by a single-member LLC.

A second common misconception is that there are negative tax consequences with an offshore trust and LLC combination.  The entire structure is actually tax neutral, meaning that your income, estate, and gift tax “picture” does not change as a result of establishing this structure.  The LLC will elect under IRS rules to be “disregarded” as an entity for U.S. tax purposes. This means it will not file a U.S. tax return and that all of its income and transactions will be reported on the trust’s information tax return. Income tax is only paid on your personal tax return – on the same items you would have paid tax on without the LLC/trust structure.

Apart from any protection available under state exemption laws, limited partnerships, and limited liability companies, a trust is the cornerstone of any truly effective asset protection plan.  A trust is a legal relationship in which one person holds legal title to property, subject to an obligation to hold, operate, invest or administer the property for the benefit of another.

A third misconception that we often come across is that offshore trusts are illegal. In reality, they are entirely legal. The key to effective asset protection planning is the word “advance.” As long as this type of planning is undertaken in advance of a creditor appearing on the horizon, it is 100% legal to protect yourself. Unfortunately, many people first seek to protect their assets after they have been sued or otherwise incurred an obligation. In such circumstances the planning options are significantly narrowed because of fraudulent transfer laws (in all states) that permit a court to set aside transfers made at the “eleventh hour.”

Other topics advisors should know about include fraudulent transfers and voidable transactions, exemption planning as it relates to state and federal laws, an overview of select offshore trust jurisdictions, including the Cook Islands, Cayman Islands, Belize and a number of Caribbean nations, among others.  Additionally, they need to understand sources of liability, IRS scrutiny of abusive trust arrangements, U.S. reporting requirements and how to select the right asset protection attorney.

Properly structured asset protection planning can effectively protect your assets from potential litigants and creditors. It allows an individual, partnership, LLC, trust or corporation to protect assets against potential claims, yet maintain a great degree of flexibility. 

Self-employed borrowers should plan ahead at tax time

Deborah Graves for Columbia Daily Tribune writes: As a self-employed borrower, how do you get a mortgage loan these days? It’s not as easy as it used to be. The process is different. The documentation is different. Even the way the mortgage market defines “self-employed” is different. So what do you do?

The first step for any self-employed borrower is to provide your mortgage loan officer with your federal tax documents for the last two years, including your W-2 forms. If you are unable to locate a copy, your lender can have you sign a 4506-T form for the IRS. This document releases a line-item transcript of your tax return to your lender, providing third-party verification of the reported income.

If you are a small-business owner, your income might be documented in your federal return on a Schedule C form, summarizing any income and expenses associated with the business. If your income can be verified using Schedule C, that situation is often the simplest for a lender to determine a borrower’s ability to make a monthly mortgage payment because all the information is contained within your federal return.

Other types of self-employment necessitate business tax forms such as the 1120S or 1065. If your tax situation requires these types of forms, it is likely that you have a certified public accountant or another tax professional who can provide the appropriate tax returns to your lender on your behalf.

As a self-employed borrower, you need to understand that income that does not appear on your W-2 will be analyzed in greater detail than a borrower who earns typical wages. You will need to have been self-employed for a reasonable time period, which typically requires a two-year self-employment history.

Your lender might also request any K-1 forms that flow into the Schedule E, or the complete business return for all your businesses to analyze the following: income stability, type and nature of business, demand for service, financial strength and ability to generate sufficient income to make monthly mortgage payments.

For many self-employed individuals, income can be variable and seasonal in nature, so lenders often need a more current year-to-date profit and loss statement or balance sheet for any business entities. Filing for a tax extension, for example, could create financing delays that you need to take into consideration.

But how is self-employment defined in today’s mortgage lending environment? If an individual has a 25 percent or greater ownership interest in a business, they are considered self-employed.

For example, if you own a rental property management company with your siblings and have reported income or loss from that entity that results in a K-1 form showing 33 percent ownership, you are self-employed. But if the K-1 form you received from, for instance, buying into a local restaurant or craft beer company shows a 5 percent ownership interest, you are not self-employed.

Confused? Here is a simple piece of advice to make it all easier: A little tax planning can go a long way. If buying a home or refinancing your mortgage is in the cards for you this year, share that information with your accountant before filing your 2014 tax return. Your accountant might be working to reduce your tax liability by a few hundred dollars — but those tax savings could influence your ability to qualify for a mortgage, which has much greater financial implications.

Planning ahead for this new mortgage process will make a significant difference in getting you the loan you need.

The Three Most Misunderstood Tax Deductions (Even for Tax Professionals)

Dave Duval for CPA Practice Advisor writes: Each year during tax time the “most overlooked” tax deductions get a lot of press. And every year the lists include the same deductions, such as state sales tax, student loan interest, job hunting costs, and moving expenses.

The fact is, in my tax practice I’ve never overlooked these particular deductions, so I thought it might be more useful to list the deductions that are most often misunderstood, by both taxpayers and tax professionals alike. Here are three of those deductions, along with an explanation of the confusing aspects of each one.

State and local taxes

If your clients are itemizing deductions, they have the option of claiming either state and local income taxes or state and local sales taxes. They cannot claim both. The deduction is most beneficial to the millions of taxpayers who live in states that have no income taxes, such as Washington, Florida, and Texas, among others. SNIP, the article continues @ CPA Practice Advisor, click here to continue reading...

Upsell, Cross-Sell & CRM: How They Work Together

Bill Faeth for Business2Community writes: A lot has been said about the value of cross-selling and upselling when it comes to the bottom line. It’s Marketing 101. It is easier and a lot less expensive to cross-sell to existing customers than it is to find and woo new clients. In “Marketing Metrics – The Definitive Guide to Measuring Marketing Performance,” written by Paul W. Farris, research has shown that it is 50 percent easier to sell to an existing client than to someone who has not bought from you before. If you get it right, you can really add value for your client and further cement the relationship.

Cross-Selling & Upselling

You cross-sell when you identify a different product that will suit your client’s needs. The products should be in some way related to your product. An example of this would be selling a client who has just bought a Web hosting package additional website building software as well.

The term upselling refers to the offering of additional features or a more costly version of what a client is considering buying. An extended warranty is one such example of upselling.

Getting It Right

The key here is to try and create a win-win situation. You have already developed some kind of bond and trust with the client, so you are in a good position. You do not, however, want to turn into a pushy sales person, that will ruin the relationship.

If the client feels that you are just trying to make money, they will no longer trust you and they will be less likely to return in future. According to a study conducted by McKinsey, 70 percent of buying decisions are based on how the client feels at that very moment.

If the client feels that you are looking out for their best interests, that will strengthen the bond of trust already created. You need to identify a need that the client needs fulfilled and match the product accordingly. Remember, at the end of the day, everyone wants to feel as though they have been properly listened to.

According to a study conducted by Bain and Co., around 80 percent of companies surveyed believed that they were offering superior service. According to the clients surveyed, only 8 percent actually did deliver superior service.

80% of companies believe they offer superior service; only 8% actually do. -Bain and Co. 

Let’s look at an example. Say that you sell a client a laptop, it would make sense to sell them software and possibly a laptop case as well. It is important here to listen to the client properly and identify cues from them as to what software they would find useful. If the computer is for home use, for example, it would not make sense to try and sell them an accounting program. However, photo editing or anti-virus software would be likely to be well-received.

It is all about reading the cues properly. You need to gauge whether or not the client would be receptive to the upsell or cross-sell and be prepared to back off if they really do not seem interested. Put your value proposal forward and then leave it up to the client. If they are interested, all is good and well. If they are not, let it go.

Even if they do not take you up on the offer, the seed will be planted and there is a possibility that they will come back at a later stage. By not trying to push the sale, you are letting the client know that the relationship with them is more important than making that last sale.

This enhances the customer’s experience and creates a positive connotation with you and your company. The same McKinsey study also found that 85 percent of clients who had positive experiences with the company would in turn, return and buy more products or services. On the other hand, after a bad experience, 70 percent would actually decrease their commitment to the company.

Positive client experience is worth a lot more than simply making another sale. That client will reward excellent customer service with increased loyalty and will certainly recommend your company to their friends.

Communication is Key

Key to this process is providing enough information to the client prior to the sale and to also give them after-sales support. Your client wants to be able to contact you when necessary and you need to make this as simple as possible.

Not everyone is happy to send in questions via email or online contact forms. Sometimes clients feel that real-time communication is essential. You can facilitate this by offering multi-channel communication. Give your client choices when it comes to being able to communicate with you. This could include a help line, live chat, email or contact forms allowing the client to choose the format that they are most comfortable with.

70% of buying decisions are based on how a client feels at that very moment. -McKinsey

The upside of enabling them to contact a call center directly, whether through live chat or via phone, is that the consultant is better able to understand what the client’s needs are. This increases the chances of creating a favorable client experience and also increases the chances of being able to upsell or cross-sell products.

That is where a service like Zipwire becomes invaluable. The cloud-based contact service can coordinate inbound and outbound communication on your behalf leaving you free to concentrate on the day to day running of the business.

The system can be set to assign calls to consultants based on the skills necessary to achieve resolution. This is an important process in the customer service game. For excellent client service to be a reality, the client’s contact with your company has to be dealt with as efficiently as possible. As far as possible, this should mean resolution at the first point of contact.

The efficient management of calls will also lead to an increase in employee productivity. If you allow your consultants to stick to the areas that they know best, there will be less time wasted overall and more time that can be spent on furthering the client relationship. 

Bill Faeth is President of Inbound Marketing Agents, an innovative Hubspot Gold partner based in Nashville, TN.